You're mine now !!!

[mookiemookie]

Originally Posted by SteamWake

It was 'recommended'

http://iperceive.net/hidden-clinton-...or-minorities/

I still fail to see how any of those political goals translated into mortgage brokers and banks lowering their lending standards. That was a purely profit motivated decision, not a government mandate.

Furthermore, a study by the Cleveland Fed found that 60% of "higher priced loan originations" went to middle or higher income borrowers or neighborhoods. This story of the financial crisis being caused by big bad Clinton pushing banks to make loans to minorities falls apart when you examine the facts.

Fannie and Freddie didn't do most of their subprime buying until 2005 - 2007. By that time the wheels of the crisis were already in motion. Peak home sales were in August 05 and peak prices in 2006. While they're not innocent by any stretch, to suggest that the entire crisis can be traced back to Fannie and Freddie is disingenuous.